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LawBiz® TIPS – Week of October 31, 2017

Who Doesn't Love a Good Ghost Story...mixed with Proper Business Procedures?

Ghosts are afoot. At least, some people think so.

According to a May 27, 2016, article by Debra Cassens Weiss in the ABA Journal, some people believe that a ghost is haunting a courthouse in New Mexico. Doors shutting of their own accord, a cold chill in the air, items dropping to the floor without cause, and sightings of a ghost donned in early 1900s attire are some of the strange happenings at the Alamogordo building.

This is not the only haunted courthouse, according to a companion article by Lee Rawles in the same issue of the ABA Journal. Many courthouses across the United States boast ghosts.

Do you believe in ghosts? Whether you do or not, there are always plenty of reported mysterious, unexplained happenings.

One thing, though, that is certain: in the business of law, there isn't much that is unexplained. In other words, if you conduct your business as you should, you can count on certain outcomes.

Certainly, you can't predict the economy. Likewise, you can't predict the number or financial size of the clients whom you will attract. However, if you follow certain procedures, you can stem the effects of a bad economy and you can attract and keep a goodly number of clients. In other words, if you follow these procedures, you will set up the foundations for success and keep bad business ghosts at bay.

The main procedure is to establish a plan for your business of law. This is really a five-step process, including preparing to plan, identifying goals, developing the marketing plan, creating a financial plan, and evaluating and revising the plan.

It is important to note that plans for the future do not always mean anticipating growth. In a stagnating economy, planning to stay at the present level of revenue, market share, or practice size may be the most that a lawyer can expect.



Who Doesn't Love a Good Ghost Story...mixed with Proper Business Procedures?

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"I requested that (my partners) allow me to take on the management of the firm and suggested the creation of a business plan.... (Our practice) is a successful practice, but in dire need of a direction -- and a business plan. They agreed to give me a shot and entertain a rough outline of my ideas. I was shocked when they agreed, but then horrified at the task before me. However, sitting on my shelf is "The Business of Law" that I purchased from you a few years ago. I began to read it and a whole new world has opened up for me. I just wanted to express my gratitude to you for writing the book... I am excited about the opportunity I have and just wanted to let you know that I appreciate all you do for the field."

Pleasanton, CA


Ed Poll, LawBiz® Management   |   |   |   |


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